Solar Panel Cost Guide in Spindale, NC (2024 Update)
- Spindale Solar Installation Cost: $16,815
- 25-Year Savings: $21,076
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Spindale
Let’s have a look at the average cost of solar in Spindale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Spindale, the average cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Spindale, most homeowners require a 6.8-kilowatt system. Using the figure above, a solar installation costs about $16,815, or $24,045 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average Spindale homeowners see about $18,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Spindale for a quote for your home.
Solar savings over time in Spindale
| Year | Return on Investment |
|---|---|
| 1 years | $-15,493 |
| 3 years | $-12,848 |
| 5 years | $-10,204 |
| 7 years | $-7,560 |
| 9 years | $-4,916 |
| 11 years | $-2,271 |
| 13 years | $373 |
| 15 years | $3,017 |
| 17 years | $5,661 |
| 19 years | $8,306 |
| 21 years | $10,950 |
| 23 years | $13,594 |
| 25 years | $16,238 |
Top Solar Installers in Spindale
Putting up solar panels on your own can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for you.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Spindale
Factors that Affect Solar Panel Costs in Spindale
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Spindale: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Spindale average.
Solar Financing Terms
Most solar companies in Spindale offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your total costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Spindale is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $13,814 | 13.2 years |
| 8 kW | $3.58 | $20,049 | $18,812 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,006 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,397 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $34,985 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,769 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,749 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $52,927 | 11.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Spindale, NC Solar Cost FAQs
How much does it cost to install solar panels in Spindale?
The average cost of solar panels in Spindale is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Spindale?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.